Southern Energy elects two new directors, names new board chair

Southern Energy Corp. (TSXV: SOU)(AIM: SOUC) said shareholders approved all resolutions at its annual general and special meeting held Sept. 30, 2026, including the election of two new directors and a series of other corporate matters.

Paul Baay and Danny Labelle were elected to the board as non-executive directors, effective Sept. 30, 2026. Bruce Beynon, the company's former chair, did not stand for re-election and retired from the board on the same date. John Joseph Nally was appointed non-executive chairman, succeeding Beynon.

Baay has more than 35 years of experience in oil and gas exploration and production and currently serves as president and chief executive officer of Touchstone Exploration Inc. In May 2023, Baay entered into a settlement agreement with the Alberta Securities Commission related to a breach of Section 147(4) of the Securities Act (Alberta), admitting to emailing draft news releases to a registered investment dealer employee on six occasions between December 2019 and April 2021, prior to public distribution. Baay paid the ASC $40,000 and completed governance training. No market access bans were imposed.

Labelle has more than 28 years of experience in the Western Canadian Sedimentary Basin and most recently served as senior vice president at Hammerhead Energy Inc. until its C$2.55 billion sale in December 2023. Labelle currently holds 31,250 shares in the company.

Shareholders also approved the re-appointment of Deloitte LLP as auditor, fixed the number of directors at five, and approved the company's stock option and share award incentive plans. They also approved, by ordinary resolution of disinterested shareholders, the potential creation of a new control person resulting from the possible conversion of a US$17 million convertible debenture held by TCC 1 Corp. A special resolution authorizing a potential share consolidation of up to five pre-consolidation shares for each one post-consolidation share was also passed, subject to board discretion.

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